Public Finance Management

This course is accredited by the Services Seta and material covers unit standard 242810 at NQF L4 worth 6 credits and unit standard 252040 at NQF L5 worth 8 credits

Course Duration: 3 Days

The broad aim of this course is to introduce participants to key knowledge and skills pertaining to Public Financial Management

Course Duration: 3 Days
Upon completing this course, participants should be able to:
  • be familiar with key South African macroeconomic issues, & public financial management legislation, State Treasury Regulations, and the Public Finance Management Act
  • understand the weaknesses of traditional public finance management systems and the vision of the Public Finance Management Act
  • understand public finance management terminology and concepts
  • be familiar with the financial planning and budgeting system of the State
  • be aware of new and old management principles, approaches, and paradigms
  • be able to differentiate and apply various financial planning and budgeting techniques such as: Medium Term Expenditure Framework, zero-based budgeting, incremental budgeting, programme budgeting, and performance budgeting
  • be able to manage budget, cash-flow projections, and variance analysis successfully
  • be able to interpret and develop public financial management reports such as: income and expenditure statement, budget, MTEF format, cash-flow projection, variance analysis, assets register, programme budget, performance budget, and balance sheet
  • be aware of cost-effectiveness and cost-efficiency financial management concepts
  • be familiar with key principles of successful contract and tender management
  • be familiar with the concepts of financial decentralisation, cost-centres, and delegations and
  • Be aware of public finance management success and failure factors.
  • Demonstrating an understanding of the key concepts of managerial finance.
  • Interpreting financial statements.
  • Drafting financial forecasts.
  • Drafting budgets according to operational plans of the unit.
  • Supervising the financial management of a unit against given requirements
  • Explaining the concept of budgeting pertinent to an area of responsibility.
  • Determining the elements of a budget relevant to an area of responsibility.
  • Monitoring and controlling actual expenses (and revenue), against projected budget.
Course Duration: 3 Days
  • Section 1: What is financial management?
  • Section 2: Financial management macro environment and legislation
  • Section 3: Public financial management
  • Section 4: Success factors of good public financial management
  • Section 5: An economic perspective
  • Section 6: Accounting practice and the Financial Management Cycle
  • Section 7: Budgeting
  • Section 8: Revenue management
  • Section 9: Supply chain management
  • Section 10: Asset management and fraud prevention
  • Section 11: Adjustments estimate
  • Section 12: Financial Misconduct
  • Section 13: Financial Reporting
  • Section 14: Analysing Financial reports
  • Section 15: Auditing